MONTRÉAL, June 18, 2019 (GLOBE NEWSWIRE) -- Valener Inc. (“Valener”) (TSX: VNR) (TSX: VNR.PR.A) the public investment vehicle in Énergir, L.P. today announced that the Québec Superior Court issued a final order, on June 14, 2019, approving the previously announced statutory arrangement under the Canada Business Corporations Act with respect to Valener’s common shares and preferred shares, pursuant to the Arrangement Agreement publicly announced on March 27, 2019 (the "Arrangement").
The completion of the Arrangement remains subject to the receipt of required regulatory approvals and the satisfaction or waiver of the other customary closing conditions.
Further details regarding the Arrangement are set out in the management information circular dated April 24, 2019, which is available under the profile of Valener at www.sedar.com.
About Valener
Valener is a public company which serves as the public investment vehicle in Énergir, L.P. Through its investment in Énergir, L.P., Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Québec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Énergir, L.P.’s growth, and on the other, invests in wind power production in Québec alongside Énergir, L.P. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener’s common shares and preferred shares are listed on the Toronto Stock Exchange under the “VNR” symbol for common shares and under the “VNR.PR.A” symbol for Series A preferred shares. www.valener.com
Forward-looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including, without limitation, statements regarding the anticipated timing for completion and the outcome of the Arrangement, may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe” or “continue” or the negatives of these terms or variations of them or similar terminology. Although Valener believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.
In respect of the forward-looking statements and information concerning the outcome of the Arrangement, Valener has provided such in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory approvals, the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement including that there be no material adverse effect and other expectations and assumptions concerning the Arrangement. Forward-looking statements are provided for the purpose of assisting investors and others in understanding certain key elements of Valener’s objectives, strategic priorities, management’s current expectations and plans, and in obtaining a better understanding of Valener’s business and anticipated operating environment as at and for, the periods ended on certain dates and the reader is cautioned that such statements may not be appropriate for other purposes. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Risks and uncertainties inherent in the nature of the Arrangement include the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the Arrangement, in a timely manner, or at all. Failure to obtain such approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Arrangement, may result in the Arrangement not being completed on the proposed terms, or at all. Readers are cautioned that the foregoing list of factors is not exhaustive. For more information on the risks and uncertainties that could cause Valener’s actual results to differ materially from current expectations, and about material factors or assumptions applied in making forward-looking statements, please also refer to Valener’s public filings available at www.sedar.com. In particular, further details and descriptions of these and other factors are disclosed in the “Risks Factors” section of Valener’s management information circular dated April 24, 2019.
The forward-looking statements in this Press Release reflect Valener’s expectations as at the date hereof, and are subject to change after this date. Valener expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.
For additional information:
